Some Olympians make Millions of Dollars while others are broke. A recent study shows that about 60% of Olympians do not consider themselves financially stable. In this article, we will see 3 reasons why Olympians are broke. As such without further ado, here are 3 reasons why Olympians are broke:
1. Olympians Are Not Paid Except They Win Medals
One of the reasons for Olympians been broke is that most Olympians are not paid till they win a medal. While this may serve as a motivation, it can also be demoralizing. This has made many Olympians broke and financially unstable.
2. It's Expensive To Train
Another reason why Olympians are broke is that they have a long list of what to pay for in other to be in shape. They need to spend a lot of money to train and prepare and most times the bill is on them. Most Olympians are financially responsible for their coaches, nutritionist and physical therapist and this cost a lot of money. This makes many of them financially unstable.
3. Government Policies
In some countries, the policies of government don't encourage Olympians, thus they don't do good financially. Many countries in Africa don't roll out policies to encourage Olympians. This can be another strong reason why Olympia is financially unstable.
Content created and supplied by: Gwanfy (via Opera News )